Gold price today falls as oil prices rise and Fed rate hike bets grow. Investors await US inflation data for clues on interest rates and gold's next move.  | Business News

The price of gold has declined since late last week after the metal hit a 15-week high in late August.

Gold prices in India today were ₹14,325 for 1 gram of 22-carat gold (up by ₹115) and ₹1,14,600 for 8 grams of 22-carat gold (up by ₹920).

A further 10% rise in gold prices could deliver a significant boost to India’s household wealth and consumption, with the impact extending beyond jewellery demand. Jefferies estimates the wealth gain and increased gold-backed borrowing could together provide an 80-100 basis-point tailwind to GDP and spending.

Gold and silver traded higher internationally as the US dollar weakened, while MCX prices were mixed, with silver gaining and gold declining. Investors awaited US inflation data for clues about the Federal Reserve’s next policy move amid geopolitical tensions.

By Ashitha Shivaprasad Sept 7 (Reuters) - Gold prices nudged lower on Monday as strong U.S. jobs data reinforced expectations for higher interest rates, while market participants awaited key U.S. inflation prints due later this week for further clarity on the Federal Reserve's policy path.

Pakistan, Sept. 7 -- Gold prices in Pakistan declined on Monday, following a drop in international gold rates. The local gold price fell Rs2,400 per tola to Rs463,136. The decline came as global gold prices also moved lower during the session.

Gold and silver prices remained under pressure as stronger US jobs data raised expectations of higher interest rates. Analysts see both metals in a sideways trend, with key support and resistance levels identified for gold and silver.